Fresh Food Ordering App Missfresh Secures USD 230 Mln Series C+
ChinaNews, 9/20/17
Beijing-based fresh food m-commerce app operator Missfresh E-commerce recently confirmed that it had completed USD 230 mln in Series C+ in March 2017 in a round jointly led by Tiger Global and Genesis Capital with participation by Jeneration Capital. The funding is being used for expansion of warehouses in first- through third-tier cities, brand building, and market expansion, said CEO Xu Zheng. He also revealed that the company plans to invest RMB 300 mln in its office-based self-service snack shelf product "Bianligou" to quickly set up more than 100,000 sales points.
Missfresh recently incubated the Bianligou project, which focuses on refrigerated containers for fresh-foods to complement room temperature snack-shelves. The service launched in June, and has set up nearly 2,000 shelves in Beijing, nearly covering all office building areas across the city. Daily average sales volume per sale point is more than RMB 200.
Editor's Note: Missfresh is a fresh food m-commerce app with a refrigerated logistics network that can ensure delivery of fresh foods from local suppliers to customers. For more information on this topic, please see Fresh Food Ordering App Missfresh Lands USD 100 Mln Series C, MD 1/20/17 issue.
Keywords: VC Bianligou m-commerce funding wireless Series C Tiger Global fresh food Xu Zheng Missfresh Genesis Capital Jeneration Capital snack shelf
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